Charter Communications: Implied upside of 80% Some investors believe this pause could be a sign the rally is on its last legs, but others on Wall Street are unconcerned. Among the bulls is XM Investment analyst Marios Hadjikyriacos. "Stock markets are enjoying the best of all worlds, buoyed by a resilient U.S. economy and speculation that Fed rate cuts are just around the corner, helping to justify stretched valuations," he wrote. The index has been on a breathtaking run, but some S&P 500 stocks still have ...

Charter Communications, Inc. (NASDAQ:CHTR) Q2 2024 Earnings Conference Call July 26, 2024 8:30 AM ET Company Participants Stefan Anninger - Vice President of Investor Relations Chris Winfrey - President and Chief Executive Officer Jessica Fischer - Chief Financial Officer Conference Call Participants Craig Moffett - MoffettNathanson Sebastiano Petti - JP Morgan Jonathan Chaplin - New Street Benjamin Swinburne - Morgan Stanley Jessica Ehrlich - Bank of America Securities Peter Cipino - Wolfe Research Operato ...

The broadband provider topped estimates in its second quarter. Shares of Charter Communications (CHTR 17.38%) were soaring after the nation's No. 2 cable company and owner of the Spectrum brand posted better-than-expected results in its second-quarter earnings report, even as it continues to lose broadband subscribers. As a result, the stock was up 16.5% as of 10:46 a.m. ET. Charter manages a challenging market Charter said that total internet customers, which include both residential and business customers ...

Financial Performance - Free cash flow totaled $1.29 billion, significantly up from $668 million in Q2 2023, driven by higher adjusted EBITDA, favorable working capital changes, and lower cash taxes due to timing [1] - Second-quarter adjusted EBITDA was $5.7 billion, reflecting a 2.6% year-over-year growth, with an adjusted EBITDA margin of 41.4%, up 10 basis points year-over-year [6] - Net cash flows from operating activities reached $3.9 billion, compared to $3.3 billion in the prior year [7] - Revenues for the quarter were $13.68 billion, a 0.2% increase year-over-year, exceeding consensus estimates by 0.2% [9] Revenue Breakdown - Residential revenues amounted to $10.76 billion, down 0.6% year-over-year [10] - Voice revenue decreased by 4.2% year-over-year to $350 million, attributed to a decline in wireline voice customers [11] - Commercial revenues grew by 2.1% year-over-year to $1.8 billion, driven by enterprise and SMB revenue growth [12] - Advertising sales revenues increased by 3.3% year-over-year to $397 million, primarily due to higher political revenues [13] Customer Statistics - Total residential and SMB Internet customers decreased by 0.7% year-over-year to 30.36 million, with a loss of 154,000 residential Internet customers [14] - Residential voice customers declined by 14.9% year-over-year to 6.17 million [15] - SMB customer relationships increased by 3,000 in Q2 2024, compared to an increase of 4,000 in Q2 2023 [17] - Residential video customers decreased by 9.6% year-over-year to 12.71 million [29] Cost and Expenses - Total operating costs and expenses declined by 1.4% year-over-year to $8.02 billion, with programming costs down by $268 million, or 9.8% [18] - Costs to service customers decreased by $88 million, or 4.2% year-over-year, mainly due to lower labor costs and bad debt expenses [19] - Other costs of revenues increased by $171 million, or 12.6% year-over-year, primarily due to higher mobile service direct costs [32] Debt and Liquidity - As of June 30, 2024, total principal amount of debt was $96.5 billion, with credit facilities providing approximately $4.1 billion in additional liquidity [3] - The company purchased 1.5 million shares for $404 million during the reported quarter [21]

Key Takeaways Mobile service demand helped boost earnings and revenue at Charter Communications. The company posted a 36.9% year-over-year increase in mobile service revenue, and internet service revenue also increased. Shares soared 17% soon after trading commenced Friday but remain lower on the year. Charter Communications (CHTR) shares soared Friday after the cable, phone, and internet provider posted better-than-expected results on higher demand for its mobile service. Charter reported second-quarter ea ...

Core Insights - Charter Communications reported revenue of $13.69 billion for the quarter ended June 2024, reflecting a year-over-year increase of 0.2% and surpassing the Zacks Consensus Estimate of $13.62 billion by 0.49% [1][3] - The company achieved an EPS of $8.49, which is an increase from $8.05 in the same quarter last year, resulting in an EPS surprise of 12.45% against the consensus estimate of $7.55 [1][3] Revenue Performance - Total revenue from advertising sales was $397 million, which is below the average estimate of $435.97 million but shows a year-over-year increase of 3.4% [6] - Commercial total revenue reached $1.82 billion, slightly above the average estimate of $1.80 billion, marking a year-over-year increase of 2.1% [6] - Residential internet revenue was reported at $5.81 billion, exceeding the average estimate of $5.79 billion, with a year-over-year growth of 1.3% [6] - Residential mobile service revenue saw significant growth, reported at $737 million, compared to the average estimate of $717.63 million, representing a year-over-year increase of 36.7% [6] Customer Metrics - The company experienced a net loss of 149 thousand internet subscribers, which was better than the average estimate of a loss of 252.86 thousand [6] - Total voice customers decreased to 7,446 thousand, slightly below the average estimate of 7,470.44 thousand [6] - The net loss in video subscribers was 12 thousand, compared to an average estimate of a loss of 5.63 thousand [6] Stock Performance - Charter's shares have returned 7.2% over the past month, contrasting with a -1.2% change in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [5]

Charter Communications (CHTR) came out with quarterly earnings of $8.49 per share, beating the Zacks Consensus Estimate of $7.55 per share. This compares to earnings of $8.05 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's comment ...

Second Quarter 2024 Results July 26, 2024 • our ability to sustain and grow revenues and cash flow from operations by offering Internet, video, voice, mobile, advertising and other services to residential and commercial customers, to adequately meet the customer experience demands in our service areas and to maintain and grow our customer base, particularly in the face of increasingly aggressive competition, the need for innovation and the related capital expenditures; • our ability to obtain programming at ...

Item 5. Other Information. The Agreement, which is effective as of July 26, 2024, has a term ending July 26, 2026 (or upon an earlier termination of employment) and provides that Mr. Howard will continue to serve as Executive Vice President, Chief Accounting Officer and Controller. The Agreement provides that Mr. Howard will receive an annual base salary of at least $625,000 and a target annual cash bonus opportunity of 85% of his annual base salary. Mr. Howard will also continue to participate in Charter's ...

Charter Announces Second Quarter 2024 Results • Second quarter total residential and small and medium business ("SMB") Internet customers decreased by 149,000. As of June 30, 2024, Charter served a total of 30.4 million residential and SMB Internet customers. • As of June 30, 2024, Charter had a total of 31.8 million residential and SMB customer relationships, excluding mobile-only relationships. 1 • Second quarter Adjusted EBITDA of $5.7 billion grew by 2.6% year-over-year. 1 • Second quarter free cash flo ...